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Following up on our report on BYD passenger vehicle sales in February and January–February, let’s have a look at the company’s commercial vehicle sales. First of all are the commercial vehicles that get the most attention — buses.
Looking at BYD’s electric bus sales, the volume was pretty low in February, but it was still 125.4% higher than in February 2024 — going from 201 sales to 453 sales. Across the first two months of the year, BYD’s electric bus sales grew 40.5%, from 526 sales to 739 sales. So, perhaps not as dramatic in the passenger vehicle sales categories, but still strong growth. Of course, bus sales are more up & down depending on orders, as the chart above displays. And I should qualify my statement above that “volume was pretty low.” 453 electric bus sales in one month is not bad!
Non-bus BYD electric commercial vehicle sales grew a whopping 1049.2% in February 2025 compared to February 2024. They grew from 362 sales in February 2024 to 4,160 sales in February 2025. That’s amazing. Think about it — more than 4,000 commercial vehicle sales in one month. (Imagine if Tesla was selling that many Semi trucks each month — people would be going nuts about it.)
As you can see in the chart above, the last few months of sales have been at a tremendously higher level than sales in any previous month. One would expect this sector would have yo-yo sales results from month to month like the bus sector has, but after three months of such results, one has to wonder if this is simply becoming the new normal for BYD. Could that be possible? Or should we expect to see a dropoff to lower levels again before some eventual monthly spikes that bring us back to the level of recent months?
Looking at January–February 2025 sales, they were up 1,458.9% compared to January–February 2024! They increased from 511 last year to 7,966 this year. Impressive.
I’m very curious to see now how the rest of the year goes for BYD in these sectors. What do you expect?
Full disclosure: I own shares of BYD. I have no intention to sell them anytime soon.
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